QuidelOrtho (NASDAQ:QDEL) Trading Down 15.7% – Should You Sell?

Shares of QuidelOrtho Corporation (NASDAQ:QDEL) traded down 15.7% during trading on Thursday . The company traded as low as $23.40 and last traded at $23.0730. 769,622 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 1,298,360 shares. The stock had previously closed at $27.37.

Analyst Ratings Changes

A number of brokerages have issued reports on QDEL. Weiss Ratings restated a “sell (e+)” rating on shares of QuidelOrtho in a research note on Wednesday, October 8th. Wall Street Zen downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. reduced their target price on QuidelOrtho from $26.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday. UBS Group boosted their price target on QuidelOrtho from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Citigroup reissued a “neutral” rating and issued a $33.00 price objective (down from $40.00) on shares of QuidelOrtho in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, QuidelOrtho presently has an average rating of “Reduce” and an average target price of $38.20.

QuidelOrtho Trading Down 4.3%

The firm has a market cap of $1.38 billion, a PE ratio of -3.11 and a beta of 0.35. The company has a 50-day simple moving average of $28.14 and a 200 day simple moving average of $28.38. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

QuidelOrtho (NASDAQ:QDEL) last posted its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.29. QuidelOrtho had a negative net margin of 16.10% and a positive return on equity of 5.29%. The firm had revenue of $699.90 million during the quarter, compared to analysts’ expectations of $667.45 million. During the same period in the previous year, the business posted $0.85 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. QuidelOrtho has set its FY 2025 guidance at 2.000-2.150 EPS. As a group, sell-side analysts forecast that QuidelOrtho Corporation will post 2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QuidelOrtho

Hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC grew its position in shares of QuidelOrtho by 100.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 989 shares of the company’s stock valued at $30,000 after acquiring an additional 496 shares during the period. Allworth Financial LP boosted its position in QuidelOrtho by 2,460.9% during the second quarter. Allworth Financial LP now owns 1,178 shares of the company’s stock worth $34,000 after purchasing an additional 1,132 shares in the last quarter. Summit Securities Group LLC acquired a new stake in QuidelOrtho in the first quarter valued at approximately $36,000. Nisa Investment Advisors LLC increased its position in shares of QuidelOrtho by 118.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,280 shares of the company’s stock valued at $38,000 after buying an additional 693 shares in the last quarter. Finally, Quarry LP increased its position in shares of QuidelOrtho by 47.1% in the first quarter. Quarry LP now owns 1,436 shares of the company’s stock valued at $50,000 after buying an additional 460 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.